Asian stocks fell early Friday as markets adjusted expectations for the pace of U.S. interest rate cuts, Bloomberg reported. Investors focused on Japanese inflation, Taiwanese industrial output and Singapore inflation data.
Kansas City Fed President said the Fed will ease policy in September, but no one wants a 50 basis point rate cut at the moment. The latest data showed a cooling U.S. labor market, with manufacturing activity shrinking at its fastest pace this year and existing home sales falling.
U.S. stocks fell on Thursday, with one stock falling 3.7%. In commodities, West Texas Intermediate crude rose 1.5% on Thursday to around $73 a barrel. Gold was steady in early trading on Friday.
